Heitman has beefed up its operation in Asia with the hiring of John White from Australia’s Challenger Financial Services.
White, portfolio manager of the Challenger Real Estate Securities fund, has joined the Chicago-based firm to lead its Asia-Pacific effort in the listed property shares sector, according to a report by Asian Investor.
His move follows the end to a joint venture alliance between Heitman and Challenger recently when Heitman decided it would be better to have a single platform managed by the firm.
Based in Melbourne, White will look to hire additional staff to complete a securities team and will target equities particularly in Japan, Hong Kong, China, Singapore, and Australia.
At a Heitman investor conference last August, White said during a discussion panel that Asian REITS had existed in a “world of pain” in the recent past and remained six-to-nine months behind the recovery in the US and Europe. However, at the time he said he had identified an upward price “correction” thanks partly to large-cap REITS particularly in Japan and Australia being able to secure finance to support their business plans.